BBB Foods (NYSE:TBBB) Price Target Raised to $67.00

BBB Foods (NYSE:TBBB) had its target price increased by JPMorgan Chase & Co. from $48.00 to $67.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on TBBB. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Scotiabank reaffirmed an “outperform” rating and issued a $65.00 target price on shares of BBB Foods in a report on Thursday, August 27th. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. UBS Group lifted their price target on BBB Foods from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Citigroup initiated coverage on BBB Foods in a report on Friday, July 31st. They set a “buy” rating and a $49.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

BBB Foods Price Performance

TBBB stock opened at $50.45 on Thursday. The company’s 50-day moving average price is $44.82 and its two-hundred day moving average price is $39.88. The firm has a market cap of $5.98 billion, a P/E ratio of -31.33 and a beta of 0.05. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 2.16. BBB Foods has a 12 month low of $23.81 and a 12 month high of $52.22.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.42 billion. BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%. On average, analysts anticipate that BBB Foods will post -0.63 earnings per share for the current fiscal year.

Insider Activity at BBB Foods

In other news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total transaction of $388,773.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC increased its position in BBB Foods by 2.9% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 27,163 shares of the company’s stock valued at $732,000 after acquiring an additional 770 shares during the period. Savant Capital LLC lifted its holdings in shares of BBB Foods by 6.7% during the fourth quarter. Savant Capital LLC now owns 12,540 shares of the company’s stock worth $419,000 after purchasing an additional 792 shares during the period. Osaic Holdings Inc. acquired a new position in shares of BBB Foods during the second quarter worth $25,000. Larson Financial Group LLC lifted its holdings in shares of BBB Foods by 547.9% during the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after purchasing an additional 893 shares during the period. Finally, Smartleaf Asset Management LLC bought a new stake in shares of BBB Foods in the fourth quarter worth $39,000. Institutional investors own 8.42% of the company’s stock.

BBB Foods Company Profile

BBB Foods Inc is a Mexico-based discount retailer that operates under the Tiendas 3B brand. The company serves consumers through neighborhood stores offering everyday necessities at affordable prices, with a focus on convenience, value and accessible locations.

Tiendas 3B stores sell a range of groceries, household products, personal-care items and other frequently purchased consumer goods. The business emphasizes a hard-discount retail model, including a selection of private-label and branded products, streamlined store formats and cost-conscious operations.

BBB Foods was founded in Mexico and has expanded its store network across the country.